Continuing a very strong start to the year for institutional FX platforms, Forex ECN FastMatch has reported that May 2018 FX trading volumes were up 16% from April, with average daily trading volumes coming in at $22.6 billion.
That just beats FastMatch’s previous best month of May 2017, at $22.5 billion ADV.
By comparison, FastMatch averaged $17.1 billion ADV during all of Q4-2017.
As we reported a few weeks ago, FastMatch monthly revenues edged up to €1.7 million in Q1-2018, versus an average of €1.5 million monthly in Q4-2017.
FastMatch has been very active the past few months, outside of the FX volumes count. In March the company named Alain Courbebaisse as its new Chairman, replacing Lee Hodgkinson. FastMatch announced the opening of a new sales office in Greenwich CT late last year, located near some of its major customers. FastMatch also recently stated that it was opening up its FX tape data to the general public.
FastMatch also got a new look and logo (see above) in December from new owner Euronext NV (EPA:ENX). FastMatch’s three shareholders – Global Brokerage Inc (NASDAQ:GLBR), Credit Suisse and BNY Mellon Corp – announced in May 2017 that they were selling 90% of the company to Euronext for $153 million. The transaction closed in mid August.